Quote from: mindrust on March 13, 2020, 07:18:20 AM

Quote from: JayJuanGee on March 13, 2020, 07:13:32 AM

you know that you sleep much better in BTC than in fiat,

Problem is I couldn't. My problem was buying too many dips recently. I was casually throwing $5k's. That was a huge mistake and was the main panic trigger for me.

Combined with that, what we just witnessed never happened before in the history of crypto If I am not wrong.

Of course, no two situations are exactly alike, but we have had similar kinds of dramatic price overshoots and impending doom scenarios.

So, yeah, you cannot be blowing your whole wadd and going completely in at a whole bunch of times and then you end up running out of money...

yeah, I am no fucking saint either. Sure, I had buy orders going down to $3k.. but still, we were almost to the point that I was running out of money and then I need to think about adjusting matters too.

Furthermore, I already told the story from November 2018, I had a whole fucking bunch of bills coming due from some business ventures that I had entered into.. and they were a lot, and I thought that I had enough cash to cover everything.. but then when push came to shove, I had to liquidate some of my BTC at around $4k in order to make sure that I did not use up ever fucking penny of my cash stash... and what if BTC prices went down more, I needed to be prepared... so yeah.. I made similar mistakes of running out of cash and budgeting wrong and not completely having all my expenses covered.

Surely takes planning to both DCA and to buy on dips, and even though you are buying on dips, you still need to attempt to stay within a budget that does not overextend your finances.

Hopefully, you figure out a meaningful way to get to some comfortable position, and for sure, you should be able to get to a position where you can sleep comfortably at night and you do not get too upset if you are not able to look at the BTC price for an extended period of time... however, yeah, when the BTC price moves by a shitload, sometimes we can feel a kind of need to look at what is going on, especially if we have outstanding orders that we are attempting to manage.. and yeah, if our net wealth goes down 50% in a short period of time, many of us will become a bit worried about those kinds of dynamics (both in terms of finances and psychology).